Investing in All of America Act of 2025

This bill modifies the financing limits and capital definitions for Small Business Investment Companies (SBICs) by reducing the maximum outstanding financing from 300% to 200% of an SBIC's private capital. It increases the total financing limit for commonly controlled SBICs to $450 million and excludes investments made in rural areas, specific technology categories, or small manufacturing from certain financing calculations. Additionally, the bill expands the definition of private capital to include funds from university endowments and the revenue of certain government-sponsored corporations.

This bill affects Small Business Investment Companies (SBICs) by modifying their financing limits and expanding the definition of private capital. It also impacts small manufacturers, businesses located in rural areas, and entities within specific technology categories that receive SBIC investments. Additionally, the legislation involves government-sponsored corporations and the trusts or endowments of colleges and universities by including their funds in the calculation of an SBIC's private capital.

• Modification of SBIC financing limits. The bill reduces the maximum outstanding financing available to a Small Business Investment Company (SBIC) from 300% to 200% of its private capital.
• Increased financing cap for commonly controlled SBICs. The maximum financing available to two or more commonly controlled SBICs that make regular interest payments is increased from $350 million to $450 million.
• Exclusions from financing limit calculations. The bill allows SBICs to exclude investments made in rural areas, specific technology categories, or small manufacturers from their financing limit. These exclusions are capped at the lesser of $125 million or 50% of the SBIC's private capital.
• Expansion of private capital definition. The definition of an SBIC's private capital is expanded to include funds from the business revenue of additional government-sponsored corporations and investments from college or university trusts and endowments.

This bill modifies existing Small Business Administration (SBA) regulations governing Small Business Investment Companies (SBICs) by adjusting financing limits and expanding the definitions of private capital. It specifically amends the criteria for calculating maximum outstanding financing and revises the types of institutional funds, such as university endowments, that qualify as private capital under the SBIC program.

The bill aims to modify Small Business Administration financing limits and expand the definition of private capital for Small Business Investment Companies (SBICs). It specifically seeks to incentivize investment in rural areas, small manufacturers, and certain technology categories by excluding those investments from federal financing calculations.